The Canberra Business Chamber’s latest Canberra Business Beat survey suggests that there is improvement in optimism in the business community, but there are challenges ahead for business.

“For the first time since 2023, our survey suggests that more businesses (39 per cent) are feeling positive than negative (30 per cent),” Greg Harford, Canberra Business Chamber Chief Executive said today. “Just under half of businesses expect to grow over the next year, and 53 per cent expect to make a profit. This is positive news, but there remain areas of concern, with just under a quarter of businesses expecting to make a loss, and the remaining 23 per cent not sure.

“A key driver of improved positivity is market stability, particularly from public sector spending, although there are concerns from some that they are unable to access government procurement options. At the same time, city centre disruption continues to challenge some firms.

“39 per cent of firms say they expect to employ more people over the next 12 months, compared to just 20 per cent six months ago. At the same time, the ACT has the lowest unemployment rate in the country at 3.5 per cent in seasonally adjusted terms which suggests it may be hard to fill roles.

“Businesses continue to call for lower business taxes and streamlined regulations to enable to them to operate more productively and realise their potential. Red tape has a significant cost to the economy overall – with around 60 per cent of ACT small businesses estimating that they spend more than $20,000 a year on compliance, according to the recent ACCI Small Business Conditions Survey.”

Read the full Canberra Business Beat report.